Prime Minister Shehbaz Sharif boosts Pakistan's energy sector

Prime Minister Shehbaz Sharif has taken a significant step towards enhancing Pakistan's energy sector by establishing a committee led by Deputy Prime Minister Ishaq Dar. This committee's primary goal is to formulate a comprehensive policy for oil and gas exploration within the country. By engaging with various stakeholders, the committee aims to attract investments that will drive growth in this crucial sector.

Recently, during a meeting in Islamabad with representatives from Petroleum and Gas Exploration and Production companies, Prime Minister Shehbaz Sharif reiterated the government's commitment to prioritizing the exploration of domestic oil and gas reserves. He urged these companies to also consider offshore reserves, emphasizing the potential for cost savings and reducing dependence on foreign exchange.

In response to the Prime Minister's directive, petroleum and gas exploration companies have pledged to invest a substantial amount of five billion dollars in Pakistan over the next three years. This investment will involve the drilling of two hundred and forty sites in search of petroleum and gas reserves, marking a significant milestone in boosting the country's energy sector.

The formation of the exploration committee and the commitment from industry players to invest in Pakistan's oil and gas sector signify a positive development for the country's energy landscape. With a focus on tapping into local resources and exploring new avenues for energy production, Pakistan is poised to strengthen its energy security and drive economic growth in the coming years.